Lakeside Steel gets $22 million loan for new pipe mill
Welland-based steel maker has secured $42 million in new credit in 2011 to finance capital needs
WELLAND—Lakeside Steel Inc. has set up a five year $22 million loan with LSA Thomasville LP, a Delaware limited partnership.
The steel-maker will use the money to build its new pipe mill in Thomasville, Ala. and finance working capital needs.
Lakeside says it expects to draw from the credit line in the next five months.
The company has now secured $42 million in new credit in 2011.